SPECTRUM NUMISMATICS WINS SECRET OHIO CLOSED-BID COIN AUCTION Público Deposited
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The E-Sylum: Volume 9, Number 14, April 2, 2006, Article 13
SPECTRUM NUMISMATICS WINS SECRET OHIO CLOSED-BID COIN AUCTION
Guess what? According to a March 31 report in The Toledo Blade,
"The state of Ohio announced today it rejected a series of closed
bids from dealers and instead sold a batch of rare coins and
currency connected to a state scandal to Spectrum Numismatics
International for $7.5 million.The stock of collectibles was part of a $50 million Ohio Bureau
of Workers? Compensation investment with former Toledo-area coin
dealer Tom Noe and is now part of the evidence in a criminal case
against him.The $7.5 million bid was the pre-set minimum that Spectrum agreed
to pay if a so-called auction ? one held over several days in a
secret location and open only to select dealers who provided
$10,000 deposits ? did not raise more.Six other bidders placed bids totaling nearly $2.03 million on 37
of the 100 lots for sale, said Ohio Attorney General Jim Petro?s
office. Bidding was from March 21 to Wednesday."To read the complete article, see Full Story
- 2006-04-02
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